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Public Notice – Presentation of Financial Statements Financial Year 2023

Mar 21, 2024

PUBLIC NOTICE
PRESENTATION OF FINANCIAL STATEMENTS
AS PER SECTION 418(3) OF THE LOCAL GOVERNMENT ACT.

In accordance with section 418(3) of the LGA Council advises that at the ordinary Council meeting on 27 March 2024, will include the presentation of the audited financial statements and auditors reports for the year ending 30 June 2023.

A summary of the Financial Statements is provided below.

2023 2022
$ ‘000 $ ‘000
 

Income Statement

Total income from continuing operations 78,407 99,028
Total expenses from continuing operations 71,072 59,858
Operating result from continuing operations 7,335 39,170
Net operating result for the year 7,335 39,170
Net operating result before grants and contributions provided for capital purposes  

 

 

(4,762)

 

 

 

558

Statement of Financial Position
Total current assets 71,470 61,372
Total current liabilities (29,212) (22,789)
Total non-current assets 807,301 725,257
Total non-current liabilities (32,187) (36,226)
Total equity 817,372 727,614

Other financial information
Unrestricted current ratio (times) 1.5 1.33
Operating performance ratio (%) (7.28)% 3.5%
Debt service cover ratio (times) 4.82 8.02
Rates and annual charges outstanding ratio (%) 13.90% 12.58%
Infrastructure renewals ratio (%) 81.59% 220.1%
Own source operating revenue ratio (%) 55.14% 39.04%
Cash expense cover ratio (months) 11.89 11.80

 

In accordance with Section 420 of the Local Government Act 1993 (NSW), any person may make a submission in writing to Council with respect to the Council’s Audited Financial Statements or the Auditor’s Reports.

Copies of the Audited Financial Statements and the Auditor’s Reports may be inspected at:

Internet:
www.hilltops.nsw.gov.au

Locations:
BOOROWA OFFICE: 6-8 Market St, Boorowa, NSW, 2586
HARDEN OFFICE: 3 East St, Harden, NSW, 2587
YOUNG OFFICE: 189 Boorowa St, Young, NSW, 2594

Submissions close one week after the above public meeting has been held.